Discounted Cash Flow (DCF) Analysis Unlevered

Batla Minerals SA (MLBAT.PA)

0.65 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 1.45 | 0.65 | undervalue

Operating Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 23.5919.1610.798.125.764.092.902.061.461.030.73
Revenue (%)
EBITDA 10.745.372.323.411.971.400.990.700.500.350.25
EBITDA (%)
EBIT 8.572.881.603.011.491.050.750.530.380.270.19
EBIT (%)
Depreciation 2.172.490.720.400.490.350.240.170.120.090.06
Depreciation (%)

Balance Sheet Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 3.454.875.106.862.471.751.240.880.630.440.32
Total Cash (%)
Account Receivables 2.032.013.151.771.010.720.510.360.260.180.13
Account Receivables (%)
Inventories 1.932.231.141.360.680.480.340.240.170.120.09
Inventories (%)
Accounts Payable 1.190.580.600.370.260.190.130.090.070.050.03
Accounts Payable (%)
Capital Expenditure -3.14-2.42-0.99-0.45-0.59-0.42-0.29-0.21-0.15-0.11-0.07
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.65
Beta 0.554
Diluted Shares Outstanding 5.35
Cost of Debt
Tax Rate 37.56
After-tax Cost of Debt 3.12%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.505
Total Debt -
Total Equity 3.48
Total Capital 3.48
Debt Weighting 0.00
Equity Weighting 100.00
Wacc

Build Up Free Cash

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 23.5919.1610.798.125.764.092.902.061.461.030.73
EBITDA 10.745.372.323.411.971.400.990.700.500.350.25
EBIT 8.572.881.603.011.491.050.750.530.380.270.19
Tax Rate 39.38%49.41%71.90%24.21%44.49%37.56%44.49%44.49%44.49%44.49%44.49%
EBIAT 5.191.460.452.280.830.660.420.290.210.150.11
Depreciation 2.172.490.720.400.490.350.240.170.120.090.06
Accounts Receivable -0.02-1.141.380.760.290.210.150.100.070.05
Inventories --0.301.09-0.220.680.200.140.100.070.050.04
Accounts Payable --0.610.02-0.23-0.11-0.08-0.05-0.04-0.03-0.02-0.01
Capital Expenditure -3.14-2.42-0.99-0.45-0.59-0.02-0.29-0.21-0.15-0.11-0.07
UFCF 4.220.640.153.162.0610.660.470.330.240.17
WACC
PV UFCF 2.060.950.590.400.270.180.12
SUM PV UFCF 1.65

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.50
Free cash flow (t + 1) 0.17
Terminal Value 4.86
Present Value of Terminal Value 3.72

Intrinsic Value

Enterprise Value 5.37
Net Debt -2.37
Equity Value 7.74
Shares Outstanding 5.35
Equity Value Per Share 1.45